You are here: Home FAQ FAQ Understanding Who Should Be Beneficiary of Your IRA 2. Don’t I have to use this money for my retirement?

2. Don’t I have to use this money for my retirement?

When you reach a certain age, usually April 1 after you are 70 1/2, Uncle Sam says you must start taking some money out. (This is called your required beginning date.) But if you do not use all this money before you die, naming the right beneficiary can keep it growing tax-deferred for decades.

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